Ten Tips to Sell your home
The process of selling a home can easily become a daunting and time consuming experience. Sometimes though, depending on current market conditions, home sellers are provided with the excellent opportunity to save thousands of rands in commission, and do it themselves. Below are a list of ten tips which will assist in avoiding commonly made FSBO (for sale by owner) mistakes.
The first step in the process, is to understand the value of your property. The value of a home is not determined by the amount of time or work put into it, but what it is worth to potential buyers. An easy way to determine this, would be to find out how much similar properties in your area have sold for recently.
Be objective, even though some may find it difficult. It may be a good idea to get the honest opinion of a friend, while they walk through the house with you. They may discover minor problems which you were previously unaware of.
Having a plan will make the entire process much easier. Take into consideration where your deal will be finalized. Will you have documents prepared by an attorney of conveyancer? Research and planning of such aspects will definitely ease the process.
Make a list of everything on the property which needs repairing, cleaning, replacing or removing. Take care of the more obvious and urgent things first.
Be prepared for potential buyers. Make a list of every possible a buyer might have, and be ready with an answer. If possible, have comparison sheets on hand showing other home sales in your area. This will provide possible buyers with valuable insight into the value of your property. Also a map showing where local stores, schools, etc are, might prove useful.
Make an effort to sell the best points of the property to potential buyers. Think convenience. Don't say things like, "The property is located near stores", say something like, "within five minutes walking distance".
Be sure to include all important information regarding the property in all advertisements and listings. Include the area of the property(square meterage), number of bedrooms and bathrooms, address, telephone number, and finally your asking price. Forgetting to include the price, often discourages keen buyers from calling, as well as wastes time with uninterested parties.
Listen to potential buyers. Many who sell their property make the mistake of getting defensive over their home while talking to potential purchasers. Listen to criticisms, and make an attempt to resolve them. Ask how important such issues are to the buyer. This will provide some insight into selling.
Be cautious when dealing with the sale agreement. Make sure it is understood by both parties involved. Be certain of the various processes, and steps associated with each. Ask yourself questions like, " What if the buyer doesn't get their financing? What's included in the sale? When will the buyer take possession of the property? Who pays the closing fee?"
Make closing the deal as hassle free as possible, by having all relevant documents ready on hand for signing. Be prepared for any likely questions. Purchasing property is for many, the largest financial decision they will ever make. Make an effort to make the buyer comfortable.